Tips for when to take out loans, use credit cards

People with wealth take out loans and use credit cards, but generally they tend to borrow to grow their finances, Christy Bieber wrote in The Motley Fool. Ms. Bieber said people with wealth avoid predatory lenders with high-interest rate loans and while they generally do not borrow to pay for consumer goods, they do use credit cards to gain reward points, paying off the balance each month to avoid interest.